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February 27, 2024
Question

Change deposit account from old transactions

  • February 27, 2024
  • 2 replies
  • 0 views

We have a residential rental company. Before I figured out my method for keeping track of individual properties I created "sub-banks" for each property and deposited money into those accounts. Now it is messing up my balance sheet because it shows money in the fake banks. I've reconciled up till the end of this year. Will it mess anything up if I change the "Deposited to sub-bank"  to deposited to main bank?

2 replies

February 27, 2024

Thanks for getting in touch with the Community, faf07. I appreciate your detailed information.
 

To properly identify what will occur when you change accounts for specific transactions, I'd recommend working with an accounting professional. If you're in need of one, there's an awesome tool on our website called Find a ProAdvisor. All ProAdvisors listed there are QuickBooks-certified and able to provide helpful insights for driving your business's success.
 

Here's how it works:
 

  1. Go to our Find a ProAdvisor page.
  2. Use the City or ZIP search field to specify a location.
  3. Hit Find a ProAdvisor.
  4. Browse through your results and find one that works best for the business. You can click on each ProAdvisor's profile to learn more information about them.

 

Once you've found an accountant, they can be contacted through their Send a message form:
 

  1. Use the available text box to introduce yourself. Be sure to include details about which services you're looking for.
  2. Enter your appropriate info in the Your nameYour email, and Your phone number (optional) fields.
  3. Select Send message.


You'll also be able to find many detailed resources about using QuickBooks in our help article archives.
 

Please don't hesitate to send a reply if there's any additional questions. Have a lovely Tuesday!

BigRedConsulting
February 27, 2024

No, it shouldn't change anything, because you were likely reconciling only the parent account, which also contains those transactions.